Seattle

Acquisition Opportunity

Hilco Streambank is seeking offers to acquire the business and assets of a specialist commercial window and glazing supplier with a manufacturing business in the North East.

Project Seattle

DEADLINE FOR EXPRESSIONS OF INTEREST

Friday 31 July 2020 at 4pm BST

Deadline for Offers – Friday 7 August 2020 at 12 Noon BST

On behalf of RSM Restructuring, Hilco Streambank is seeking offers to acquire the business and assets of a specialist commercial window and glazing supplier with a manufacturing business in the North East (the “Company”).

Business Background

This an opportunity to purchase the trade and assets of a business that designs, manufactures, and installs high specification glazing products. The Company supplies an extensive range of products, including high security, specialist blast and fire-resistant windows and doors. The product portfolio features a number of commercially available systems including Schuco Jansen, Voest Alpine, RP Technik & Forster profiles. The business offers a variety of in-house designed products for the healthcare and commercial sectors.

The Company’s route to market is B2B, through main contractors, local authorities & healthcare providers. The business has existing relationships with a number of architects and other design professionals that allow it to gain specification commitments at an early stage of projects.

For the 2019 financial year, the Company generated revenues of circa £4.2m, with a gross profit of circa £1.1m and an EBIT loss of circa £150k. The Company’s draft accounts for the 2020 financial year show revenues of circa £4m, with a gross profit of circa £760k and an EBIT loss of circa £590k.

Available Assets

Contracts Work & Progress

The Company has existing contracts on a number of projects, with values of between £50k to several million, and a strong order book.

Staff

The Business employs around 40 staff, including an in-house technical team.

Plant and Machinery

Plant and machinery items with a net book value of around £300k are available as part of the sale. These items include a variety of machinery related to window design and manufacture, in addition to vehicles, and associated office equipment.

Intellectual Property

The Company has a number of intellectual property assets, including trade marks protecting a number of recognised product brands, patents and designs. The Company’s website and rights in a number of associated domain names are also available as part of the sale.


 

Sales Process

Deadline for Expressions of Interest: Friday 31 July 2020 at 4pm BST
Deadline for Offers – Friday 7 August 2020 at 12 Noon BST

All expressions of interest and offers are to be directed to Hilco Streambank in writing. Please contact Hilco Streambank to gain access to a virtual data room of further information on signing of a confidentiality agreement.

Key Terms & Conditions

VAT, if applicable, at 20% will be added to the price. A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank's full Terms and Conditions apply.

Contact Us

For further information please contact the following Hilco Streambank representatives:. 

Interested Parties

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